Zimbabwe bans foreign participation in small-scale gold mining

 Zimbabwe has barred foreign involvement in small-scale gold mining, a sector crucial to the nation’s financial landscape. This announcement, made by Mines Minister Hon. Polite Kambamura, aims to safeguard the industry for Zimbabweans, reserving it exclusively for citizens and domestic entities.

“The purpose of this policy is clear: no foreign individual, foreign-owned company, controlled company, or foreign beneficial owner shall be permitted to engage in any activities associated with small-scale gold mining,” said Kambamura. 

This strict framework that prohibits foreign nationals from acquiring or managing mining titles under this category took immediate effect.

According to this new policy, no foreigner shall be permitted to: 

a) Acquire, hold, or control any mining title classified under the small-scale

gold mining category;

b) Participate directly or indirectly in the operation or management of

small-scale gold mining activities; or

c) Enter into any arrangement (tribute, joint ventures, syndicates,

partnerships) intended to confer economic or operational control over small-scale gold mining activities are reserved for Zimbabwean citizens.

“Any nominee arrangements, proxy ownership structures, or undisclosed beneficial ownership arrangements, or other mechanisms intended to circumvent this policy shall be unlawful and subject to cancellation and enforcement action,” Kambamura added.

By prioritising local ownership, the Zimbabwean government aims to enhance economic opportunities for its citizens, amidst a backdrop of ongoing efforts to strengthen national sovereignty over its mineral wealth.